In my experience, a property with multiple cottages and outbuildings can provide all kinds of creative strategies...some folks try short-term rentals or even specialized retreats if local regulations allow.

Many investors have had to get creative by emphasizing other property perks, like pools, proximity to local attractions, or unique experiences, to offset any beach access challenges. 

When I discover I can't build a house on it, I usually move on to the next deal without thinking about an alternative use but I like your creativity and will start thinking about alternative uses!

Also, learn how to be a landlord and manage well if you are managing yourself before you get too creative.

Congratulations on getting started so early and being creative about your acquisition.

You can be as creative as you can imagine.

With your balance sheet and cash, you can put together creative deals without giving up equity and without using your cash but you are going to need to find a market and product which has 7-8% cap rates.I invest in the northeast, Great Lakes area.Diverse economies with education, healthcare as the back bone and tech as growth.In your area, you’ll have to raise way more capital in the form of equity just to meet DSCR with the banks.

Let me know what thoughts/reactions you have here, and I will incorporate into my more detailed blog publication coming in a few weeks.

Its a creative idea, as an investor - I must be missing something as I see zero benefit for the investor compared to other offerings.  

So, looking for creative ideas to finance the new home purchase in North Dakota.